Federal Reserve Governor “has no intention of intimidation to step down” by Trump

“I have no intention of intimidation to step down from my position because of some questions that were raised in a tweet,” Cook said in a statement issued by the Federal Reserve.

Bill Bouti, head of the agency that organizes the mortgage giants Vi Mai and Freddy Mac And appointed Trump, claim x The social media platform early Wednesday that Cook had claimed two basic housing – in Ann Arbour, Michigan and Atlanta – in 2021 for better mortgage conditions. Mortgage rates are often higher in the second homes or those purchased for rent.

Trump continued the accusation of Bolt by calling Cook to resign, in the last effort by the administration to exercise greater control over one of the few independent agencies in Washington. Trump has Overpowered The President of the Federal Reserve, Jerome Powell, for not cutting the interest rate in the short term, and even threatened to shoot him.

If Cook is imposed on the Federal Reserve Board, Trump will provide a chance to appoint loyalists. Trump said he would only appoint officials who support the cut rates.

PULTE urged the Ministry of Justice to investigate Cook, which was appointed to the Board of Directors of the Federal Reserve by former President Joe Biden in 2022. It was resetting the following year to a period of lasting until 2038, which is the longest remaining period between the seven governors.

“I intend to take any questions about my financial history seriously as a member of the federal reserve, so I collect accurate information to answer any legitimate questions and provide the facts,” Cook also said.

Polte said, in a letter to Public Prosecutor Bam Bondi, that on June 18, 2021, Cook bought a house in Ann Arbour, then bought two weeks later in Atlanta. Before joining the Federal Reserve, Cook studied at Michigan State University. It also accused Pulte that Cook has included her residence in Atlanta for rent.

A spokesman for the Ministry of Justice refused to comment.

Only last month, Trump Powell exploded For the enlarged cost of renewing the buildings of the Federal Reserve, it even indicates that the costs of costs can constitute the crime of shooting. He retracted his threats to launch Powell after receiving round From the project.

Polly also suggested that Cook’s alleged behavior could constitute a firefighter crime. Federal reserve officials under the law are protected from its removal by the president, with the exception of “for the reason”, which is generally seen as a kind of violations or jurisdiction in duty.

Either way, if Trump is seeking to shoot cooking, this may lead to a tight battle against the president’s authority to remove the federal governors.

The Democrats of the Senate, including Senator in New York Chuck Schumer, expressed his support for Cook experts and criticized Trump’s actions.

Shomer wrote in a post on the social media platform X. “Trump is a liar.

Senator Elizabeth Warren in Massachusetts said in a statement that Trump “was scrambling an excuse to intimidate or head of the Powell fire and members of the Federal Reserve, while anyone blames only himself on how to harm his failed economic policies for the Americans.”

Trump will be able to replace President Jerome Powell in May 2026, when Powell’s term ends. However, 12 members of the Federal Reserve Banking Bank rate committee have a vote on whether interest rates will be raised or interest rates will be reduced, so even the president’s replacement does not guarantee that the Federal Reserve Policy will change the way Trump wants.

But the more members of the Federal Reserve Board of Directors, which Trump can appoint, the more control that will be able to confirm the Federal Reserve, which has been considered long ago. Independent.

All seven members of the Federal Reserve Board of Directors can vote on price decisions. Among the other five voters are the head of the New York branch in New York and a round group of four other 11 regional branches in the Federal Reserve.

Trump appointed two members of the Federal Reserve in his first term, Christopher, Wald, and Michel Buman. both of them July 30 Exhibitions From the central bank’s decision to maintain its rate unchanged, in favor of lowering prices.

Another Federal Reserve Governor, Adriana Kogler, Unexpectedly stepped down on August 1Trump nominated one of his economic advisers, Stephen Miran, to fill the remainder of her mandate until January.

If Trump is able to replace Cook, then the first black woman working in the Federal Reserve, as well as Kugler, would give him a clear majority in the Governor Council. If Powell leaves the council when his chair ends next May, Trump will be able to fill in fifth place. However, Powell can remain on the blackboard until early 2028 after the completion of his mandate as a president.

The heads of the regional banks of the Federal Reserve are chosen by the boards of directors of these banks, but they are subject to approval of the Conservative Council at the Federal Reserve. The conditions of all 12 Federal Reserve Chairmen will end next February.

For several months, Trump demanded that the Federal Reserve reduce the short -term interest rate, which is currently about 4.3 %. He also repeatedly insulted Powell, who said that the Federal Reserve wants to see more evidence of how the economy evolves in response to Trump’s comprehensive definitions before making any moves. Powell also said duties threaten to increase inflation and slow growth.

Trump says that the rate of low borrowing rate from the government on $ 37 trillion of debt and enhances the housing market by reducing mortgage rates. However, the costs of borrowing real estate and other interest rates, including many that the government pays, Do not always follow Federal reserve decisions.

The Trump administration has made similar allegations of mortgage fraud against the Democrats attacked by Trump, including Senator in California Adam Chef New York Public Prosecutor Leitia James.